I have to head out early, but given how predictably strong this market has been lately, I don't even need to watch the finish. Today was almost a carbon copy of yesterday. After a little hesitation and some mild selling, the dip-buyers jumped in and soon had us back at the early highs. Once we traded through that level, the stops were triggered, and we spiked up to another new high.
Breadth was quite good once again, with retailers being the laggard, primarily due to WMT. Weakness in the dollar drove oil, agriculture and commodity stocks. Gold regained its momentum after pausing for a couple days and now looks poised to make a run at its all-time high.
There isn't any great new insight that can be added about this market. It is tremendously strong, going straight up and acting like it is never going to go down again. The big-picture bears are tired of repeating their arguments, which are being completely ignored.
We are ramping up again as I write, and the lack of nervousness has to make you at least a little nervous.
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